Nicola Mining Inc. Extends $2 Million Credit Line to Blue Lagoon Resources Inc. to Support Gold Production
TL;DR
Nicola Mining's $2 million credit line to Blue Lagoon Resources offers a strategic advantage in near-term gold production and regional development.
The unsecured credit facility allows Blue Lagoon Resources to access C$2 million over 12 months, with interest-only payments for the first 11 months.
This collaboration between Nicola Mining and Blue Lagoon Resources supports responsible mining in British Columbia, enhancing community engagement and regional gold development.
Nicola Mining extends a $2 million credit line to Blue Lagoon Resources, showcasing a strategic model that links milling infrastructure to nearby projects.
Found this article helpful?
Share it with your network and spread the knowledge!
Nicola Mining Inc. (TSX.V: NIM) (OTCQB: HUSIF) has announced a significant financial support to Blue Lagoon Resources Inc. through a $2 million unsecured credit facility. This strategic move is designed to bolster gold production and reflects Nicola Mining's confidence in Blue Lagoon's near-term production trajectory and its disciplined execution in navigating permitting processes and engaging with the community.
The credit facility, which provides Blue Lagoon with access to C$2 million over a 12-month term, includes interest-only payments for the first 11 months and an option to extend the agreement for another year under revised terms. This financial support is a testament to Nicola Mining's vertically integrated approach, which leverages its Merritt milling infrastructure and tailings facility to support nearby mining projects.
Nicola Mining's CEO highlighted the importance of this partnership, emphasizing Blue Lagoon's thorough approach to permitting and its strong community engagement. This collaboration exemplifies Nicola Mining's strategic model of combining its milling capabilities with financial facilitation to support responsible mining initiatives in British Columbia.
For investors seeking more information on Nicola Mining Inc. and its latest developments, updates are available in the company's newsroom at https://ibn.fm/HUSIF. This announcement underscores Nicola Mining's role in fostering industry collaboration and supporting regional gold development, marking a significant step forward in the mining sector's growth and sustainability efforts.
Curated from InvestorBrandNetwork (IBN)
